Before you sign that Limited Service Agreement

If you are thinking of foregoing the use of a Realtor® in the sale of your home and opting for a MLS listing only broker (or limited service brokerage) make sure you carefully read the listing agreement that you are about to sign.

Most For Sale by Owners (FSBO) are unaware that they are signing an Exclusive Right to Sell agreement which is required to be able to list your home in the MLS. Most of these agreements contain no provisions for cancellation other than the expiration date. In addition many of these agreements do not spell out the responsibility of the owner vs. the responsibility of the brokerage. As a result if 30 or 60 days into your listing agreement you wish to cancel and list with a Realtor ® you may find that you are unable to do so.

So what are your options?

First make sure that you understand the terms of the agreement that you are signing. Does it spell out responsibilities for each party? Does it give you the option to cancel the contract for any reason? Does it list all of the charges for MLS changes, extra photos, lockboxes, signs and when those charges are incurred?

Second look at the company listings in the MLS. How long have they been on the market? How detailed are the descriptions of the property? How many photos are there (if there is more than one refer back to the cost for additional photos) and what is the quality of the photos?

Third how much work are you willing to do yourself? Can you be available to show your home during the day? Do you understand the legal paperwork involved? Do you know how to get a prospective buyer pre-approved for financing? Do you fully understand how to negotiate the best deal to get your home SOLD?

Fourth consider another option. Give me a call. I have a great FSBO plan that gives you the option to sell your home yourself but provides you with FULL SERVICE CONSULTING to make sure that you are fully represented in the sale of your home. My listing agreements spell out each of our responsibilities and provide you a cancellation clause if you are not satisfied with our services.

We work together to define a plan that will maximize my skills as a Realtor®, my affiliation with RE/MAX Allegiance, my access to the local MLS, my use of ShowcaseTM listings on Realtor.com® and connections with professional title companies and settlement attorneys to handle all the necessary closing documents. If you are interested in talking about your plans and how my Full Service Consulting Options might be an option for you give me a call or drop me an email and we will schedule a time to find a plan that works for you.

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If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213.

Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations.

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